MicroStrategy Buys 27,200 BTC For Over $2 Billion As Bitcoin Paper Profits Cross $10 Billion

MicroStrategy has returned to the bitcoin buying market by allocating another $2 billion to accumulate more than 27,000 BTC.

It’s worth noting that the company founded by Michael Saylor now has a paper profit of around $11 billion given the recent BTC price explosion.

MicroStrategy has acquired 27,200 BTC for ~$2.03 billion at ~$74,463 for #bitcoin and has achieved a BTC return of 7.3% QTD and 26.4% YTD. As of 11/10/2024, we have 279,420 $BTC acquired for ~$11.9 billion at ~$42,692 per bitcoin. $MSTR https://t.co/uCt8nNUVqd

— Michael Saylor⚡️ (@saylor) November 11, 2024

The former CEO announced the latest acquisition at X, indicating that the company’s total storage has now increased to 279,420 purchased at an average price of $42,692 per bitcoin. That means MicroStrategy has spent a total of approximately $11.9 billion.

Given BTC’s current price of roughly $82,000, that means the Wall Street-listed company’s holdings are worth more than $22.9 billion. As such, it has a paper profit of approximately $11 billion.

MicroStrategy started its BTC accumulation strategy in mid-2020 and has made countless acquisitions since then with no plans to sell anytime soon. Most recently, the company announced plans to spend another $42 billion over the next three years to add even more BTC to its balance sheet.

Recently, the price of the cryptocurrency has been increasing, especially after Donald Trump’s landslide victory in the 24th US presidential election. It was below $70,000 at the time, but shot up more than 18% over the next week or so and broke above $82,000 today to set a new all-time high.

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